Monday, July 18, 2016

FNAC, Darty: less than ten stores to give to merge – Le Figaro

INFO LE FIGARO – The Competition Authority should give this Monday its approval to repurchase by Darty Fnac. According to our information, it requires the transfer of fewer than ten points of sale, on the 400 that have both groups in France.

Double blow for Alexandre Bompard. The CEO of Fnac, who won in late April with the auction to buy Conforama Darty, will be able to formally launch the takeover of the brand appliance is listed on the London Stock Exchange. The Competition Authority should issue this Monday his visa, essential for the operation. Especially, the sages required only minimal concessions.

The leaders of cultural teaches feared a yield from 30 to 40 stores network consists of 260 Darty and Fnac 140 in France, the flagship sites in Paris. According to our information, the Competition Authority requires the sale of less than ten outlets, mainly in Paris and the Paris region. Better:. No flagship would be affected, which will minimize the impact even in terms of image and sales

If the concessions are so small is that the Competition Authority has upset its working methods. July 6, Bruno Lasserre, its president, promised “an innovative decision” indicating that its teams would take into account for the calculation of market shares, not only shops but also online shopping sites. Those signs, like those of pure play e-commerce, such as Amazon and CDiscount.

Since he served on the Authority’s project to buy Darty end of 2015, Alexandre Bompard demanded that it takes account of the e-commerce, which assumes a market share increasingly important, especially in cultural goods and appliances. By revolutionizing its approach to the market, the Competition Authority, sometimes criticized for its dogmatism and extent of its requirements, demonstrated modernity and a remarkable ability to adapt.

Fnac , which owns 29.73% of Darty since late April announced that it already received “valid acceptances under its offer” for additional 62.16%. With approval from the Authority, it will be able to launch its takeover bid, the closing is set on 29 July.